Univision Seeks Initial Public Offering (Report)

An IPO could value the Spanish-language media company at $20 billion.

Univision Communications has hired banks to lead an initial public offering that could value the Spanish-language media company at as much as $20 billion, Reuters reported on Wednesday.

Univision has tapped Morgan Stanley, Goldman Sachs and Deutsche Bank to handle its IPO, which would raise about $1 billion, said Reuters, citing people familiar with the plan.

Univision CFO Andrew Hobsonsignaled a month ago that an IPO could be coming in 12-18 months.

Univision has been privately held since investors paid $12 billion for the company in 2007, and stakeholders Thomas H. Lee Partners, Providence Equity Partners, Saban Capital Group and others have been looking to draw some cash from their investment. Grupo Televisa, a Mexican broadcaster that provides programming to Univision, also owns a stake.

Univision declined to comment. The company reported a loss of $136.2 million in the fourth quarter after earning a profit of $172.2 million a year earlier. Revenue was $727.7 million.